Free Fair for Distressed Borrowers and Potential Homebuyers on Saturday, October 2 in Sylmar, CA, One of the Communities Most Impacted by Foreclosure in LA County
Los Angeles, CA – October 1, 2010 – (RealEstateRama) — Councilmember Alarcon will attend to help kick-off the event. Additional organizations supporting the fair include Los Angeles Neighborhood Housing Services (LA NHS), City of Los Angeles, FDIC, Keep Your Home Foundation, Bet Tzedek, Legal Aid Foundation-Los Angeles and Public Counsel. The CALIFORNIA ASSOCIATION OF REALTORS(r) is working in conjunction with the partnership as well.
“Our work in the Northeast San Fernando Valley is critical,” says Mrs. Lori Gay, president and CEO of LA NHS. Mrs. Gay also shared, “Sylmar is in one of the zip codes most impacted by foreclosure in Los Angeles County.” Over 18,400 families have already lost their home in 2010 (Dataquick Information Sources, August 2010). Reported foreclosures in the Northeast and East portion of the San Fernando Valley are extremely high. There are five zip codes in that area ranked among the Top 15 ”Foreclosure Hot Spots” in Los Angeles County. [1] Van Nuys, as a whole, has the highest number of reported foreclosures in the area.
It is evident that Los Angeles will not feel the results of the economic recovery until 2011 or 2012. Despite the difficult economy, the families who have money saved, a good credit score and reliable income can purchase a foreclosed home.
Where: Sylmar High School, 13050 Borden Ave., Sylmar, CA 91342
When: Saturday, October 2, 2010 – 9:AM
What: HUD certified housing agencies, select lenders/servicers and attorneys with information on foreclosure prevention and the home-buying process, including down payment assistance program. Bank of America, JP Morgan Chase, GMAC, PNC Mortgage, Saxon and Wells Fargo will be onsite working to save homes for families.
About Los Angeles Neighborhood Housing Services
Over the last 25 years, LA NHS has reinvested more than $2.2 billion into neighborhoods throughout the county. As a part of this work, it has developed and rehabilitated more than 12,200 housing and commercial units, put 2.1 million families on the road to homeownership, created 175 block clubs, and employed 200 neighborhood youth. As a lender to these underserved communities, LA NHS has maintained a loan portfolio with a 3% or less delinquency ratio and no foreclosures since inception. In 2007, LA NHS established the Los Angeles County NeighborWorks(r) Center for Foreclosure Solutions to address the foreclosure issue. LA NHS is the largest, non-profit, affordable homeownership provider in Southern California.
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Establishing, Protecting and Preserving Lifelong Homeowners
Liliana Argüello, MBA
Development Officer
213.381.2862 ext. 216 │ f: 213.381.2103 │ www.lanhs.org
Los Angeles Neighborhood Housing Services
3926 Wilshire Boulevard, Suite 200
Los Angeles, California 90010
Media Contact Only:
Liliana Argüello, LA Neighborhood Housing Services
Ofc: (213) 381-2862 ext. 216 ŸCell: 310-228-0959 Ÿ larguello (at) lanhs (dot) org
